Hi, it’s Greg from Retirement Essentials, your helping hand when applying for the age pension. Generally speaking your home is exempt from the assets test. There are some exceptions for example if you have a very large or income producing property. If you are travelling and your home is not occupied it will continue to be assessed as your home for a period of up to twelve months, but you need to let centrelink know. If you are renting out your house it will be treated as an investment property. Please leave all questions in the “Comments” section.
does superannuation affect your amount of pension you get ,and do shares affect your pension amount fee brunjes
Hi Fred
Super and shares are all counted as assets and are definitely included when Centrelink calculates your eligibility for the Age Pension.
My husband and I are separated (not divorced). He lives in the family home and I live in our second home that was previously an investment property earning income. Both houses are in joint names. Will the house I’m living in be considered an investment?
Hi Debbie
We don’t believe that the house you are living in would be considered an investment property due to the circumstances you outlined. You will need to notify Centrelink of your separation, that the house that was once an investment property is now your principle place of residence. This evidence should then result in you being assessed as a homeowner for Centrelink age pension purposes if you meet the age pension eligibility requirements.
Hope this is of assistance.